Kreps received a bachelor's degree from Duke University, Durham, N.C., a master's degree from George Mason University, Fairfax, Va., and a doctorate from George Washington University, Washington, D.C.

He has taught at George Washington, George Mason and Pennsylvania State universities.

He was co-author of the books "International Sources of University Funding," for the Regulatory Policy Institute, Washington, D.C.; "Federal Incentives for Alternative Energy," for Government Institutes, Rockville, Md., and "Management of Energy Facilities," for the Regulatory Policy Institute.

He is policy, regulation and financial editor of The Cogeneration and Small Power Production Monthly.